Strong sales boost Restaurant Brands NZ '01 profits

March 19, 2002

WELLINGTON, New Zealand -- Restaurant Brands NZ Ltd., operator of 201 Pizza Hut, KFC and Starbucks stores throughout New Zealand reported a 24 percent increase in profits over last year of NZ$12.2 million, versus NZ$9.81 million.

Earnings were driven by a combined 12.7 percent rise in sales at all three brands.

The company's Pizza Hut stores recorded an EBITDA margin of 11.4 percent, 2.8 percent over the prior year.

Restaurant Brands' total sales for the fourth quarter (ended Dec. 3) this year were particularly strong, up 11.8 per over last year. Sales totalled NZ $62 million, versus $56 million last year. Pizza Hut's sales, were particularly strong, up 16.1 percent .

According to a company release, "Both Pizza Hut and Starbucks are expected to continue to grow," the company said.

The company declared a final dividend of NZ 8 cents a share, up from 5.5 cents last year.

The company has changed its balance date to Feb. 28, and, therefore, is expected to report a 15-month earnings report.

Topics: Public Companies

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